Lenders to Luminar open the door to bid approaches

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The banks that control Luminar have signalled that they are open to approaches from potential buyers for the embattled nightclub operator.

A sale of the Oceana and Liquid operator is understood to be one of a small number of options being considered by its bankers — Lloyds TSB, Barclays and Royal Bank of Scotland — as they address its £80 million net debt burden.

The group last week announced that it had secured a fresh covenant waiver from the banks — the third this year — amid ongoing talks over “a longer-term restructuring of debt arrangements”.